S corp started 28 yrs ago. I got it 3 yrs ago. Will start (book pub) in 2 yrs. Can I claim start-up expenses?

Question

The business had published 1 book a year every year. Has not published in 4 years. New owner (me) has maintained S corp status, filed returns, (0 profit 0 expenses) but not published books yet. This year i wish to claim expenses for travel to trade shows and business equipment but I don't know if I meet definition of start-up since co existed for 20 plus years. I expect to start selling product in 1-2 years. Sole proprieter, small biz, international book publisher.

Answer 1

I would say they were not start-up expenses.

That is not to say they are not deductible. They are normal business expenses that are incurred in the production of income. Even if the first year is mostly or all a loss, you file the return with the expense you incurred.